According to Curbed.com, Hispanics increasingly make up what is considered the typical American homebuyer. Hispanics are expected to represent 52 percent of new homebuyers between 2010 and 2030, primarily driven by the country’s 14.6 Hispanic millennials.

From the year 2000 to present, the number of Hispanic households has increased by 6.7 million, which makes up 42.5 percent of the country’s overall household growth. Hispanics’ strong desire to own a home has driven home buying by Latinos across the United States, according to housing market experts.

“The fact is the majority of Latinos want to be homeowners and will make up half of all new home buyers in the next 20 years,” Scott Astrada, Director of Federal Advocacy at the Center for Responsible Lending, told NBC. “They have a central place in the housing market and finance system,” Astrada added.

Harvard University Joint Center for Housing Studies’ “State of the Nation’s Housing” study forecasts that minorities overall will drive three-quarters of the gains in U.S. households. Latinos will likely account for one-third of those increases alone.

Hispanics currently make up 17 percent of the U.S. population. Hispanics are expected to make up the largest segment of the Texas population by 2020 and comprise a prime source of population growth in California too.

“With credit remaining tight and limited housing inventory in several markets, these numbers are extremely encouraging and a testament to the economic resilience of the Hispanic community,” says Joseph Nery, 2016 president of the National Association of Hispanic Real Estate Professionals.

Real estate analysts say they view this market demographic as one of the major growth engines for the American housing and real estate industries.

But there are plenty of challenges that could jeopardize Hispanics making a larger imprint on the real estate industry. The Great Recession had a large impact on their savings, wiping out an estimated two-thirds of Latino wealth. NAHREP urges that this population would benefit from expanding access to affordable lending products with low downpayment requirements.

NAHREP cites stats that show Hispanics were denied loans at a rate of 17.3 percent, which is 9 percentage points higher than the denial rate for non-Hispanic whites. Also, NAHREP warns that deportations and immigration policies could have an impact on the Hispanic housing market. A 2016 study linked deportations to increased foreclosure rates among Hispanic households.

With all factors in mind, the overall current situation remains: Hispanic homeownership is helping to fuel the United States residential real estate market and this effect is expected to continue.

The rate of homeownership has progressively fallen since the Great Recession from 70 percent to an estimated 64 percent today. Housing industry experts say that new data indicates an approaching increase in the homeownership rate for the current year.

Real estate-focused website Trulia has evaluated the Census report and uncovered that owner households formed at two times the rate of renter households during the first quarter of this year. Per Trulia, this is an indicator that the largely anticipated millennial homeownership boom may be helping to push the homeownership rate up after 10 years of decline.

“Strong renter formation is one of the reasons why the homeownership rate has continued to drop since the onset of the housing crisis, so any sign this trend is reversing is something to take note of,” said Ralph McLaughline, Chief Economist for Trulia.

Industry professionals as well as potential homebuyers have credited the inability of young renters to come up with the money for a down payment as a primary obstacle in entering the housing market. Seventy percent of the renters who recently participated in a survey conducted by Zillow said that saving up enough money for a down payment is a bigger obstacle than any concerns over debt from student loans or other debts.

Homeownership rates in the first quarter of this year were highest among homeowners aged 65 and older (78.6 percent), while the homeownership rates were the lowest for homeowners aged 35 and younger (34.3 percent).

Other Census report data relevant to this topic includes:

Homeowner vacancy rate was 1.7 percent for the first quarter of 2017, while the renter vacancy rate was 7 percent.

3 percent of the United States’ housing was occupied in the first quarter of 2017, with 55.5 percent owner-occupied and 31.8 percent renter-occupied.

A recent survey by National Association of REALTORS® (NAR) shows that approximately eight out of ten Americans still believe strongly that buying a home is a good financial choice.

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The first quarter of 2017 closed strong for the housing market as data recently released by Florida REALTORS® shows the residential real estate market across Florida with higher number of closed sales, higher median prices and a higher number of pending sales for the month of March. There were a total of 25,921 single-family home sales reported for March 2017, representing a 9 percent increase from March 2016.

“March’s strong sales likely were influenced by buyers ready to take action before interest rates could move higher,” says 2017 Florida REALTORS® President Maria Wells. “Higher demand, coupled with a shortage of available homes for sale, continues to put pressure on prices – so buyers are eager to make an offer when they find the right property.”

“That means it’s a good time for sellers to list their homes since they continue to receive a higher sales price as inventory remains scarce,” added Wells. “In March, sellers of existing single-family homes received 96.1 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 94.7 percent – an indication that the listed price is extremely close to market value.”

The median sales price for single-family existing homes in Florida for March was $231,900, an increase of 10.4 percent from the prior year, according to data released by Florida REALTORS® research department in conjunction with local real estate professional boards/association. The median price for townhomes/condominium homes in March statewide was $171,000 – 9.4 percent higher than one year ago. March marked the 64th consecutive month that statewide median prices for both the single-family home sector and the townhome/condominium home sector increased year-over-year.

The Naples Area Board of REALTORS® Market Report, released Monday, April 17, 2017, posted a solid first quarter for the housing market in the area. According to the report, pending sales increased by 11 percent overall from 1Q 2016 to 1Q 2017. Closed sales increased 14 percent overall from 1Q 2016 to 1Q 2017. Median closed sales price increased by 2 percent overall from 1Q 2016 to 1Q 2017. Inventory increased by 13 percent overall from 1Q 2016 to 1Q 2017.

“March turned out to be one of the strongest months we’ve seen in a long time for sales of existing homes in the Sunshine State,” said Florida REALTORS® Chief Economist Dr. Brad O’Connor. “Sales for both single-family homes and for townhouse-condo units in March marked the fourth-highest monthly total for any single month over the past decade,” O’Connor added.